Cowboys Salary Cap: Here’s How Dak Prescott, CeeDee Lamb & 5 Extensions Could Save $80M+ in Cap Space

The NFL is rumored to increase the salary cap for the 2024 season. From $224.8 million to $242 million or $243 million. The present situation at the Dallas Cowboys is that they will end up crossing over the salary cap. However, with certain restructuring, they can end up saving almost $80 million.

Dak Prescott’s contract is viable for only one more year and the QB’s contract will be extended before March rolls around. And if the Cowboys restructure several other contracts, they would not only be substantially under the cap but will also save money this year.

The Dallas Cowboys could be making prudent moves

The Cowboys need to save cap space anyhow since they are $20 million over the cap as of now. This allows them to make moves neither in the NFL Draft nor via trades. With the owner Jerry Jones claiming he’s “all in” to win the Super Bowl this year. The Cowboys have little choice in the matter regarding saving the cap space.

According to Prescott’s contract, his salary cap for 2024 is going to be $59.45 million. However, if the Cowboys convert the base salaries of players into signing bonuses or roster bonuses. They will be able to save the money.

To save up to $80 million this year, the Cowboys must restructure Prescott’s contract in the extension in such a way that the QB receives his last year’s salary. In this way, the Cowboys will save $26.2 million on Prescott. The rest of the salary must be restructured as bonuses or prorated salary for future years.

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Similarly, wide receiver CeeDee Lamb’s salary is also due for an extension this year. Similar to Prescott, if Lamb is also put on his last year’s salary, the Cowboys will save $13.49 million in cap space. But the restructuring for the Cowboys to save $80 million doesn’t stop there but needs to be done to several other players on the roster!

On a quest to save the cap space

Similar to Prescott and Lamb, the Cowboys need all the players due for an extension to be on their last year’s salary. If this happens, here’s how much the Cowboys will save on each player:

LB Micah Parsons – $1.5 million

DE Demarcus Lawrence – $7 million

WR Brandin Cooks – $5.4 million

G Zack Martin – $12.6 million

CB Trevon Diggs – $7.9 million

OT Terrence Steele – $4.9 million

S Donovan Wilson – $2.9 million

Apart from restructuring, the Cowboys will need to make a couple of harsh but prudent decisions as well. WR Micheal Gallup suffered an ACL tear in January 2022 against the Arizona Cardinals. He is going to be the cap causality for the Cowboys. However, the Cowboys will need to cut him from the roster after 1st June, so they’ll have to pay his yearly salary of $9.5 million. And the remaining amount of $4.5 million will be spread out over the next 3 years.

Whereas third-choice QB Trey Lance needs to be traded, this will save the Cowboys another $5.3 million. Before these moves, the Cowboys will have $21.5 million. But after these moves, according to the reports of the revised salary cap for the 2024 season, the Cowboys will be $81.69 million under the cap!

Do you think Jerry Jones and the Cowboys will go all in this year and save the $80 million salary cap as well? Let us know in the comments.

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